{
\def\sym#1{\ifmmode^{#1}\else\(^{#1}\)\fi}
\begin{tabular}{l*{12}{c}}
\toprule
                &\multicolumn{1}{c}{\shortstack{Posterior:\\Recession\\(percent)}}&\multicolumn{1}{c}{\shortstack{National\\unemployment\\(percent)}}&\multicolumn{1}{c}{\shortstack{National\\unemployment\\(categorical)}}&\multicolumn{1}{c}{\shortstack{County\\unemployment\\(percent)}}&\multicolumn{1}{c}{\shortstack{Firm\\profits\\(categorical)}}&\multicolumn{1}{c}{\shortstack{\\Inflation:\\mean}}&\multicolumn{1}{c}{\shortstack{Household\\financial\\prospects}}&\multicolumn{1}{c}{\shortstack{Earnings\\growth:\\Mean}}&\multicolumn{1}{c}{\shortstack{Earnings\\growth:\\Uncertainty}}&\multicolumn{1}{c}{\shortstack{Personal\\unemployment\\(percent)}}&\multicolumn{1}{c}{\shortstack{Consumption\\growth\\(planned)}}&\multicolumn{1}{c}{\shortstack{Stocks\\net purchases\\(scale)}}\\\cmidrule(lr){2-2}\cmidrule(lr){3-3}\cmidrule(lr){4-4}\cmidrule(lr){5-5}\cmidrule(lr){6-6}\cmidrule(lr){7-7}\cmidrule(lr){8-8}\cmidrule(lr){9-9}\cmidrule(lr){10-10}\cmidrule(lr){11-11}\cmidrule(lr){12-12}\cmidrule(lr){13-13}
                &\multicolumn{1}{c}{(1)}&\multicolumn{1}{c}{(2)}&\multicolumn{1}{c}{(3)}&\multicolumn{1}{c}{(4)}&\multicolumn{1}{c}{(5)}&\multicolumn{1}{c}{(6)}&\multicolumn{1}{c}{(7)}&\multicolumn{1}{c}{(8)}&\multicolumn{1}{c}{(9)}&\multicolumn{1}{c}{(10)}&\multicolumn{1}{c}{(11)}&\multicolumn{1}{c}{(12)}\\
\midrule
                &         &         &         &         &         &         &         &         &         &         &         &         \\
{\bf Panel A: Weighted results}&         &         &         &         &         &         &         &         &         &         &         &         \\
                &         &         &         &         &         &         &         &         &         &         &         &         \\
High Recession  &11.805\sym{***}&10.758\sym{***}&0.456\sym{***}&4.856\sym{**}&-0.190\sym{**}&    0.229&   -0.135&   -0.336&    0.034&2.039\sym{**}&-0.239\sym{**}&   -0.143\\
                &  (1.721)&  (1.814)&  (0.085)&  (1.937)&  (0.081)&  (0.292)&  (0.085)&  (0.355)&  (0.224)&  (0.878)&  (0.097)&  (0.110)\\
                &         &         &         &         &         &         &         &         &         &         &         &         \\
\hline          &         &         &         &         &         &         &         &         &         &         &         &         \\
{\bf Panel B: Unweighted Results}&         &         &         &         &         &         &         &         &         &         &         &         \\
                &         &         &         &         &         &         &         &         &         &         &         &         \\
High Recession  &10.203\sym{***}&9.128\sym{***}&0.308\sym{***}&5.467\sym{***}&-0.133\sym{**}&    0.146&-0.127\sym{**}&   -0.130&    0.021&1.150\sym{*}&-0.136\sym{**}&-0.147\sym{**}\\
                &  (1.169)&  (1.390)&  (0.057)&  (1.344)&  (0.056)&  (0.181)&  (0.058)&  (0.203)&  (0.137)&  (0.685)&  (0.059)&  (0.070)\\
                &         &         &         &         &         &         &         &         &         &         &         &         \\
Observations    &     1124&     1124&     1124&     1124&     1124&     1121&     1124&     1118&     1118&     1123&     1124&      733\\
\bottomrule
\end{tabular}
}
